The Endowment and Gift Management Group serves as a liaison between the University Advancement Office and the Campus Community. We understand that donors have a choice on where they want to give and are honored that they have chosen to give to Wake Forest. At the same time, we know that our campus constituents have unique needs. Finally, we understand that gifts to non-profit institutions such as ours are subject to accounting and legal regulation.
Our goal in the Endowment and Gift Management Group is to balance the donor, constituent, and regulatory requirements of University gifts. We hope that you will find the following information useful. If you do not find what you’re looking for please contact Kameron Gress at 336.758.5223 or firstname.lastname@example.org. We value your feedback and look forward to serving you.
Our department received a gift check. What should we do with it?
Gift checks may not be deposited at the window and should be sent to the Revenue Processing Department in Advancement for deposit. Gift receipts are generated only for checks deposited by Advancement. They are not generated for checks deposited at the window. As a reminder – a gift is an unconditional transfer of assets (i.e. cash). If someone is expecting something in exchange for the cash or check. If the cash or check is written to cover a specific expense (i.e. J. Q. Student’s tuition expense), it is not a gift.
Our department has unspent funds. Can we put them in the endowment?
At this time, there is no program by which a department may reinvest unspent funds. It should be noted, where applicable, restricted funds should be spent before operating funds.
What makes a check a gift and not a payment?
If someone gives a check to the University and does not expect a good or service in return, the check may be considered to be a gift.